Which of the Following Is True About Perfect Competition

question 53

Multiple Choice

Which of the following is true about perfect competition?

• A)Each firm faces a downward-sloping demand curve.
• B)Each firm must face a horizontal demand curve.
• C)Firms are price-makers.
• D)Marginal cost equals average cost.
• E)Firms can increase sales by lowering their price.

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Definitions:

PTSD

Post-Traumatic Stress Disorder, a mental health condition triggered by experiencing or witnessing a terrifying event.

Flashbacks

Sudden, intense recollections of past events or experiences, often associated with trauma.

Outsourced

The practice of hiring a third party to perform services, handle operations or provide goods that are either difficult to manage internally or outside of the business's core competencies.

Burnout

A state of physical, emotional, and mental exhaustion caused by prolonged stress and frustration, often related to work.